Allianz wins 2012 AB+F Life Insurance Product of the Year Award

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Allianz is proud to be named the winner of the Life Insurance Product of the Year Award at the 2012 Australian Banking and Finance Insurance Awards.

Sydney, NSW (PRWEB)October 24, 2012

Allianz is proud to be named the winner of the Life Insurance Product of the Year Award at the 2012 Australian Banking and Finance Insurance Awards.

Commenting on Allianz’s success, Managing Director, Terry Towell, said “Allianz is delighted to win the 2012 Life Insurance Product of the Year award.”

“When Allianz started selling life around five years ago, we led the way in terms of price and simplicity in the direct life insurance segment. Since then the direct market has grown significantly but Allianz continues to lead the market on value for money and ease of purchase,” Mr Towell said.

“Winning this award reassures consumers of Allianz’s commitment to delivering market leading products at competitive prices,” he added.

In its Life Insurance Product of the Year submission, Allianz highlighted:

The full coverage of the product features such as being fully underwritten online and its plain English definitions and policy wordings, which provide everyday Australian families with easy-to-understand, affordable and comprehensive Life, Total or Permanent Disability (TPD) and/or Critical Illness insurance solutions.

Australians can purchase Life and/or TPD insurance of up to $1.5 million and Critical Illness insurance of up to $500,000 without the need for blood tests or medical tests.

Allianz Life offers customers the benefit of a dedicated team of specialist life claims officers, who participate in comprehensive and structured training programs to ensure exceptional service.
Allianz achieved a CANSTAR Cannex Five Star Rating for Outstanding Value Direct Life Insurance for a record fourth year running, which recognises the outstanding value of the Allianz Life Plan. Rice Warner Actuaries in their 2012 Direct Life Insurance report confirmed that Allianz was among only a handful of insurers that “could be described as specialists in direct insurance given the high proportion of their retail sales derived from this source”.

“Australians are significantly underinsured when it comes to life insurance. Many Australians hold life and income protection insurance through their super but many have only accepted the default level, which can leave them exposed to the risk of financial hardship if something were to happen that prevented them from earning an income,” Mr Towell said.

“By offering market-leading levels of direct life cover that can be obtained quickly and easily at competitive prices, Allianz is playing an important role in helping reduce the levels of underinsurance in Australia,” he said.